AURELIO CONTINUES TO EXPAND MINERAL HOLDINGS IN THE TURQUOISE MINING DISTRICT OF ARIZONA
LITTLETON, COLORADO, March 26, 2008 News Release #08-07
Aurelio Resource Corporation (OTCBB : AULO, Frankfurt : F3RA) is pleased to announce that the Company's wholly-owned subsidiary, Bolsa Resources, Inc. ("Bolsa Resources"), has entered into an agreement to acquire 20 patented mining claims (the "Viewsites claims") in the Turquoise Mining District of Cochise County, Arizona. Also, Bolsa expects to close the mineral lease and option agreement with the Rae family (the "Rae Acquisition") in early April 2008. The Rae Acquisition was previously announced on August 15, 2007 (see News Release #07-14), but was contingent upon a survey which has recently been completed.
The Viewsites patented claims are located to the west and southwest of the MAN Area that is part of the Company's wholly-owned Hill Copper-Zinc Project. These claims encompass an estimated 363 acres (survey pending) and incorporate projected extensions of copper-zinc-silver-gold sulfide mineralization as well as of the leachable oxide copper and chalcocite copper deposits overlying the MAN Area sulfide zone.
Bolsa Resources will acquire the Viewsites claims with staged payments totaling $950,000 over thirty months. Closing is scheduled to occur by August 1, 2008 following completion of a detailed survey of the 20 patented mining claims.
The Rae Acquisition includes 13 patented mining claims on 213 acres, many located on the northern portion of the MAN Area plus an additional 292 acres of surface and mineral rights located to the east of the MAN Area. As part of the transaction, the Company has also acquired approximately 744 acres of surface rights covering most of the MAN Area and includes 412 acres to the west. The acquisition incorporates projected extensions along strike of copper-zinc-silver-gold sulfide mineralization.
There is no production royalty payable on production from any land acquired in these transactions, nor were any fees or commissions paid in relation to the transactions.
These acquisitions significantly expand Aurelio's property ownership in the district, and provide the Company with an opportunity to aggressively increase its resource base through further exploration and reserve delineation drilling.
Upon the completion of these transactions, the Company will control a total of 184 patented and unpatented mining claims, six Arizona State Mineral Exploration Permits and more than 2000 acres of surface rights within the Turquoise Mining District, with a total land position in excess of 5,400 acres. The Company's land position will encompass an area approximately six miles long and over one mile wide that incorporates a number of past-producing, high-grade copper-gold-silver-zinc mines.
About The Company
Aurelio Resource Corporation is a mineral exploration company focused on fast-track development of its wholly-owned Hill Copper-Zinc Project, which the Company believes contains a number of low-cost, bulk-tonnage, open-pit-mineable deposits close to surface containing significant amounts of copper, zinc, silver and gold. The Company has previously announced an independent estimate of the mineralized material at the MAN Area of the Project totaling 63.8 million tons at an average grade of 0.56% copper-equivalent. Aurelio has also acquired the rights to explore, and an option to purchase, the Gavilanes gold porphyry deposit in Durango, Mexico.
On behalf of the Board of Directors of Aurelio Resource Corporation
Lightning cracks the blackened sky,
Hear the thunder chariot ride
All brave men with hearts of war
Ride the path of mighty Thor
